under offer
tenancy
Exmouth Road, Colaton Raleigh, Sidmouth, Devon EX10 0LE, UK
Approx. Total Ingoings
£14,000Annual Rent
£28,000The Otter Inn is situated in the village of Colaton Raleigh in East Devon. The pub and attractive large garden with the unusual Monkey Trees are highly visible from the main road which leads through the village to Budleigh Salterton. The village is located to the West of the River Otter on the B3178 road between Newton Poppleford to the North and East Budleigh to the South. It is an old village, even mentioned in the Domesday Book, with one shop and the Otter Inn, being the only pub in the village. Colaton Raleigh has a large number of thatched cottages, many with cob walls and trees. A more unusual feature is a high free-standing cob wall with a thatch. This encloses ‘Place Court’, parts of which were built in the 13th Century. At the end of Church Road, the main village street, is a working farm. From here a delightful path along the river leads to Otterton. It passes an attractive bridge made of laminate wood. This replaces an earlier bridge which fell into disrepair and became known as Rickety Bridge, all this character and charm makes this an attractive village.
Private Accommodation: The private accommodation offers three good sized bedrooms, a lounge, bathroom and kitchenette.
Indoor trading area
A traditional pub in its layout and features, the main bar welcomes guests upon entering from the car park. This area can be used for casual dining and can seat 15 covers with the main restaurant at the rear of the pub able to seat 30 covers. In between both spaces there is a snug zone with sofas for those customers who are just drinking and is enriched with an attractive feature fireplace which can be very popular in the winter months. The reasonably sized kitchen services both dining areas with easy access. The added bonus comes in the form of the function room/skittle alley towards the rear that is closed off by a set of double doors. There is scope to develop this room’s usage and appeal for hosting events, social parties or receptions.
Outdoor trading area
Based on one side of a through road, the property has a patio to the front that could be used as an extra trading area. Highlights of the premises is the large beer garden and the 20-space carpark to the back of the building that is accompanied by a built-in playground for the younger guests and aligned with large monkey trees which help create a peaceful and tranquil setting.
Regional Manager Comments
The Otter Inn represents a fantastic opportunity to run a successful business in a picturesque and tranquil part of Devon. This rural pub has excellent links to the coast and currently enjoys trade from locals, walkers and holiday makers using the campsites nearby. It presents potential to establish a strong reputation for offering a good quality food menu with popular dishes and sea food specials. Boasting a large and attractive beer garden highly visible from the road, there should be a concerted effort to utilise the facilities available to increase footfall through events or food promotions, particularly in the summer months. An experienced operator with strong catering skills and the ability to create solid community links is ideal.
Retail Partnership Tenancy
Beer Garden Private Accommodation Kitchen Parking Cask Ale Function Room Restaurant/Food
Approx. Total Ingoings
£14,000
Annual Rent
£28,000
Potential Turnover: £366,000 per annum
This is an estimate of the potential annual turnover of the pub business. It does not include the financial benefits of any living accommodation, which you will need to consider.
Guide Rent: £28,000 per annum, payable weekly in advance.
The Proposed Agreement: Retail Partnership Tenancy
The Landlord is prepared to discuss other Partnership agreements.
They will also discuss your purchasing options (Wines, spirits, cask, minerals and flavoured alcoholic beverages) which you can choose all, a combination or none. Tie release fees will apply.
Estimated Capital Start-up: £14,000 (excl VAT)
Often referred to as ingoings. Includes stock & glassware at valuation, deposit, refundable at the end of your agreement dependent upon your account being in good order. Up to 2 weeks rent and other contractual charges will be payable in advance. Please note, the actual deposit payable will be 25% of the final agreed rent.
In addition you will need to provide funds for professional advice and a level of working capital - the amount will be dependent on your business plan.
Estimated Fixtures and Fittings Value: £14,000 (excl VAT)
To be discussed with the Regional Manager.
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Originally formed in 2010 with 333 pubs, Stonegate Group is now the largest pub company in the UK following 12 major acquisitions. Our vast portfolio is now home to over 4,500 sites which range from Leased & Tenanted to Managed. We strongly believe that the pub is at the heart of British culture and we strive to deliver a fantastic customer experience.